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Global Steel Gasket Market InsightJuly 11, 2022 Comments
The Steel Shim is expected to slow down in the coming years. According to WK-chem Research’s “Global Steel Gasket Professional Survey Report 2022, Forecast to 2027”, the steel gasket industry is growing rapidly with the widespread application of steel gaskets in automotive and mechanical engineering. According to the WK-chem Research regression analysis model, the compound annual growth rate (CAGR) for the period 2022-2027 is expected to be 2.9%.
“The continuous development of the automotive industry and the machinery industry and the accelerated degree of industrialization make the steel gasket market continue to develop, and market players are paying more and more attention to the high productivity of steel gaskets to reduce costs, but the steel gasket market is relatively consolidated, and new participation It is difficult for new players to enter the market. The price of steel gaskets also makes it more difficult for new market players to enter the market.” said Eva Joy, senior analyst at WK-chem Research Chemical and Materials Market Research Center.
Material stability can be improved through proper alignment and positioning, which can be accomplished using these devices. Hence, the metal gasket market is growing at a good rate across the globe. Globally, this product is adopted by various industries because they require durability during production. The performance of metal washers is very efficient and ensures that the material does not break down under enormous pressure. Additionally, these devices come in a variety of shapes for different applications.
The major players in the steel gasket market are SKF, Matenaer Corporation, Heinrich Kipp Werk, Stephens Gaskets Ltd, Automotion Components Ltd, AccuTrex Products, Inc., SPIROL, American Metric Corporation, Seeger-Orbis, Gandini Group, Milanoviti Srl, Bokers, Inc., Cirteq Limited, SPM Instrument, Dichtungstechnik, KACO GmbH, etc. All of these companies already have a certain scale in the steel gasket market, with a complete industrial chain and business model.
Segmentation of Steel Shim Market:
On the basis of type, the global steel gaskets market is segmented into carbon steel gaskets, stainless steel gaskets, and others. Among them, stainless steel gaskets occupy the largest market, and stainless steel gaskets have higher tensile strength than carbon steel gaskets; it can be made into thinner sheets and retain their original shape even after years of service life. These properties make stainless steel an excellent choice for most industrial uses, such as machine tools and sheet metal fabrication plants. It also provides good machinability due to the lower hardness level.
On the basis of application, the global steel gasket market is segmented into mechanical engineering, automotive engineering, and others. Among them, automotive engineering occupies the main market.
Automotive engineers use steel shims for several critical applications during vehicle manufacturing, such as engine assembly, aligning cylinders, setting timing marks on camshafts, and more. They also play an important role in reducing noise pollution through effective sound dampening techniques using rubber gaskets and other materials such as fiberglass insulation boards. In addition to this, they are widely used by the automotive industry in the seating area of vehicles to prevent vibrations.
Steel Shim Market: Regional Analysis:
On the basis of region, the global steel gasket market is segmented into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. North America is expected to be one of the fastest growing markets for steel gaskets during the forecast period. This can be attributed to the development of the automotive industry in countries such as the United States, Canada, Mexico, and Brazil; increasing production levels have resulted in high demand for these products in various end-user industries. The steel gasket market in Latin America is expected to witness substantial growth over the next few years owing to developments in the automotive industry; increasing production levels have resulted in high demand for these products in various end-user industries. In Asia Pacific, growing demand for automobiles owing to rapid industrial growth coupled with growing population base will drive the steel gasket market. Furthermore, increasing production levels have resulted in high demand for these products in various end-user industries such as automotive and aerospace; this trend will continue over the forecast period.
Largest share area: North America
Largest share country: United States
Product Type: Carbon steel gaskets, stainless steel gaskets, etc.
Application: Mechanical Engineering, Automotive Engineering, etc.
Leading Company:SKF, Matenaer Corporation, Heinrich Kipp Werk, Stephens Gaskets Ltd, Automotion Components Ltd